EMC seem desperate to get in the Lithium game. They could be supported by US auto market and provide a cash deal upfront and pay more.
I think Sayona was likely to pay % of extraction plus a upfront fee. Sayona has better credentials but as a desperate seller Administrator of NAL you take the money. We lost this one because EMC is desperate and we are not.
Bid War : Evolution Metals (EMC) vs Sayona Mining (SYA), page-16
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